Statement on Ukraine by Christine Lagarde, President of the European Central Bank

25 February 2022

At this dark moment for Europe, the thoughts of the ECB’s Governing Council are with the people of Ukraine.

The ECB is closely monitoring the evolving situation. It will conduct a comprehensive assessment of the economic outlook, which will include these latest developments and which will form the basis of its policy meeting on 10 March.

The ECB will ensure smooth liquidity conditions and access of citizens to cash.

The ECB will implement the sanctions decided by the EU and the European governments.

The ECB stands ready to take whatever action is needed to fulfil its responsibilities to ensure price stability and financial stability in the euro area.